KSA’s PayTabs raises $20m investment for expansion
PayTabs aims to create over 4000 opportunities in the next two years globally with the new investment
Saudi Arabia's home-grown Fintech company PayTabs has raised $20m in investment to support its plans for global expansion to 20 markets in the next two years.
The payment processor will expand in the MENA region, Southeast Asia, India, and several countries within Africa and Europe. The company will also invest in product development, such as digital payments, and engage in strategic acquisitions to expand its services.
Additionally, the investment aims to create over 4000 direct and indirect opportunities that will support global economic growth.
Abdulaziz F. Al Jouf, founder and chief executive officer, stated: "Our mission is to transform the face of financial services in infinite possibilities. PayTabs wants to provide secure and flexible financial solutions to small and medium enterprises, and large corporations to help them flourish and grow their revenue in multiples.
"We have started operations in 2014 in the Middle East, and we aim to expand into other markets to accomplish our mission globally by offering a solution that is different from what exists in the market right now."